The Ethereum Foundation, the organization leading the development of this blockchain, made a fresh sale of ETH in exchange for millions of dollars. This time, the organization was the victim of the vicious fees market structure ruling transactions on the network.

Ethereum Foundation Victim Of This Attack

According to crypto journalist Colin Wu, an attacker extracted around $10,000 from the Ethereum Foundation. When the organization moved 1,7000 ETH to decentralized exchange (DEX) Uniswap, the transaction was caught up in a “Sandwich Attack.”

Conducted by a Maximal Extractable Value (MEV) bot as part of a strategy to profit from the fees market on the network. These bots front-run other users on the network and exploit the transaction structure by placing two transactions between the …